Oliver Luxxe Assets LLC Invests $1.18 Million in Myers Industries, Inc. $MYE

Oliver Luxxe Assets LLC purchased a new position in Myers Industries, Inc. (NYSE:MYE) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 69,518 shares of the industrial products company’s stock, valued at approximately $1,178,000. Oliver Luxxe Assets LLC owned about 0.19% of Myers Industries at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in shares of Myers Industries by 30.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 861 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Myers Industries by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,835 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 936 shares in the last quarter. Tieton Capital Management LLC increased its holdings in Myers Industries by 0.3% in the second quarter. Tieton Capital Management LLC now owns 434,850 shares of the industrial products company’s stock valued at $6,301,000 after buying an additional 1,260 shares during the last quarter. Quantinno Capital Management LP raised its stake in Myers Industries by 5.5% during the second quarter. Quantinno Capital Management LP now owns 28,341 shares of the industrial products company’s stock valued at $411,000 after buying an additional 1,467 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Myers Industries by 372.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $28,000 after buying an additional 1,498 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on MYE shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Myers Industries in a research report on Wednesday, October 8th. Zacks Research raised shares of Myers Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, Wall Street Zen upgraded shares of Myers Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.00.

Myers Industries Price Performance

Shares of MYE opened at $19.61 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.67 and a quick ratio of 1.09. Myers Industries, Inc. has a 12 month low of $9.06 and a 12 month high of $19.87. The stock has a fifty day moving average price of $18.45 and a 200 day moving average price of $16.90. The company has a market cap of $733.68 million, a P/E ratio of 26.50 and a beta of 1.09.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. Myers Industries had a net margin of 3.38% and a return on equity of 13.15%. The firm had revenue of $205.44 million for the quarter, compared to the consensus estimate of $206.40 million. On average, research analysts forecast that Myers Industries, Inc. will post 0.95 earnings per share for the current year.

Myers Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Wednesday, December 3rd were given a dividend of $0.135 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $0.54 annualized dividend and a dividend yield of 2.8%. Myers Industries’s payout ratio is currently 72.97%.

Insider Activity at Myers Industries

In other Myers Industries news, Director Helmuth Ludwig purchased 5,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $17.21 per share, with a total value of $86,050.00. Following the completion of the acquisition, the director owned 13,436 shares of the company’s stock, valued at approximately $231,233.56. This trade represents a 59.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Samantha Rutty acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average price of $17.50 per share, for a total transaction of $52,500.00. Following the completion of the purchase, the chief financial officer owned 3,000 shares of the company’s stock, valued at approximately $52,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 9,000 shares of company stock worth $156,000. 1.85% of the stock is owned by insiders.

Myers Industries Profile

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.